Category: Economy and Markets
EU says Sri Lanka should improve rights record, media freedom
June 12, 2008 (LBO) – The European Union urged Sri Lanka to improve its human rights record and treatment of journalists as the country is set to re-apply for a trade concession extension later in the year. The EU was also helping build roads and do reconstruction but work was hampered due to a monopoly […]
Sri Lanka blocks rice exports
June 12, 2008 (LBO) – Sri Lanka has slapped a minimum export price floor of 100,000 rupees (923 dollars) per metric tonne to block rice exports, information minister Anura Yapa said. World rice prices, which peaked in April, have since moderated. Global commodity prices have been booming amidst money printing in reserve currency countries, especially […]
Sri Lanka stocks buffeted by inflation
June 12, 2008 (LBO) – Sri Lanka stocks dropped 0.60 percent Thursday with brokers forecasting the slide to continue owing to raging inflation, high interest rates and a slowdown in the economy.The All Share Price Index fell 0.60 percent (14.94 points) to end at 2,459.99 while the more liquid Milanka was down 0.90 percent (26.84 […]
Pakistan inflation caused by money printing for budget: finance minister
June 12, 2008 (LBO) – Unprecedented borrowings from the central bank or ‘money printing’ to finance subsidies have caused inflation in Pakistan to go to a historic high, the country’s finance minister has said. Finance minister Naveed Qamar told Pakistan’s parliament that large subsidies not financed in the original budget had been given by the […]
Sri Lanka focuses on education to combat child labour
June 11, 2008 (LBO) – Sri Lanka will mark the World Day Against Child Labour this year on June 12 Thursday with activities to raise awareness about this year’s theme that education is the right response to child labour, the International Labour Organisation said. The ILO has estimated that some 165 million children between the […]
Sri Lanka stocks slip further, investors get ready for Janashakthi offer
June 11, 2008 (LBO) – Sri Lanka stocks slipped further on dampened sentiment with investors selling shares to raise funds for a forthcoming public offer by Janashakthi Insurance. The All Share Price Index fell 0.58 percent (14.32 points) to end at 2,474.93 while the more liquid Milanka was down 0.35 percent (10.45 points) to end […]
Sri Lanka treasury bills rates unchanged
June 11, 2008 (LBO) – Sri Lanka sold 3.3 billion rupees of 6 and 12 month bills with the yields unchanged from last week, the government’s debt office said after Wednesday’s auction.The government did not offer 3-month bills.The 6-month yield was unchanged at 18.06 percent with the government selling 2.4 billion rupees worth bills. The […]
Sri Lanka Hayleys group stake changes hands
June 10, 2008 (LBO) – A six percent stake in Sri Lanka’s Hayleys group owned by Carson and Cumberbatch controlled companies was bought by businessman Dhammika Perera on the Colombo stock exchange Tuesday, brokers said. The Ceylon Investments Company sold a stake in Hayleys amounting to 1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358 […]
Sri Lankan shares slip further
June 09, 2008 (LBO) – Sri Lankan shares ended weaker Monday on thin trading as weak sentiment continued with investors worried about high inflation and interest rates and lower company earnings, brokers said. Price losers outnumbered gainers 76 to 39, Bartleet Mallory Stockbrokers said.The All Share Price Index lost 0.28 percent (6.94 points) to end […]
” cannot be taken in isolation: economists
June 7, 2008 (LBO) – Sri Lanka should have a holistic approach to avert the threat of the household food security of the vulnerable groups due to the prevailing food crisis, officials and economists have said. A global commodity bubble – fired by money printing in reserve currency countries in particular – has brought higher […]
Sri Lanka gets World Bank loan to rebuild in conflict areas
June 06, 2008 (LBO) – The World Bank plans to give Sri Lanka a loan of 75.6 million dollars mainly to rebuild the homes of people in the war-ravaged north and east, the lending agency said in statement. Technical assistance will also be provided under the program to help meet the long term housing needs […]
Sri Lankan stocks weaken further due to lacklustre buying
June 06, 2008 (LBO) – Sri Lanka stocks weakened by 0.68 percent during Friday’s trading adding to the week-long losing streak at the Colombo Stock Exchange.Dialog Telekom lost 25 cents to close at 13.50 rupees while John Keells Holdings closed 50 cents lower at 114.50. The All Share Price Index dropped 0.68 percent (16.88 points) […]